🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
One of the few stocks and the infra sector showed a lot of strength this past week.
We can expect some continuation since this is a sector which didnt perform for most of the rally.
C&H breakout plus the stock has already broken out. I have said in the past as this company matures it will become like a Tata Sons where they will get high dividends from its IT...
NSE:LT
CUP & HANLDE breakout in stock with volume
Stock is showing sign to make uoward move.
now breakout level should act as a Support
STOP LOSS can be placed below BO candle.
considering recent (2nd) Rounding bottom Depth (100-120 points) 1st POSITIONAL TARGET would be around 1680-1700.
and for med-long term target once can consider depth of CUP (1st rounding...
PRICE IS AT ALL TIME RESISTANCE LEVEL.. #IF IT BREAKS AND SUSTAINS# ..THEN IT ENTERS INTO BLU SKY ZONE..THERE AFTER..ANOTHER STORY OF UPMOVE WILL START..IT ALREADY TRIED TO BREAK THE LEVEL BUT FILED..THIS TIME AGAIN TRYING TO BREAK WITH GOOD MOMENTUM..FOR LEARNER VERY GOOD STUFF TO LEARN..OBSERVE IT.
Stock of L&T is forming an Inverted Head & shoulders in weekly Time frame with the zone of 1580-1600 as the neck line.
One can go long ONLY if there is a weekly closing above 1600 for minimum target of 1900 with SL as 1450 DCB.
On daily TF too, the stock is making an IVHS at the same level which can be a congruence to the analysis.
This is just for educational...
GOOD BREAKOUT HAS BEEN SEEN.
BETTER IF IT RETEST AROUND 1580 LEVEL, AND THEN SHOW UP MOVE.
AGGRESSIVE ENTERIES ARE WELCOME ANYTIME.
WHAT ARE YOUR VIEWS??
Fundamentally strong stock, given a very good breakout. I have already entered at breakout for given targets, I'll sell 60% on tgt 1 and trail the remaining qty on the basis of further price action. I took it as a swing trade , as I've told earlier it is fundamentally strong , it should not take more than 6-8 months to achieve given thts. Hope you found this...
